NIO Inc. (NYSE:NIO) shares moved higher in Thursday’s premarket trading after fresh optimism around its expanding product lineup and analyst support.
Morgan Stanley analyst Tim Hsiao lifted his price forecast for Nio stock from $5.90 to $6.50 while keeping a Buy rating, pointing to strong demand for its new Onvo brand.
Third-Generation ES8 Debuts
The company revealed that its third-generation ES8 SUV is already on display at more than 300 of its retail outlets across China, CnEV Post reports.
A showcase event is scheduled for Thursday evening in Chengdu, Sichuan, where executives will outline the vehicle’s design and technology upgrades.
The official unveiling is planned for Nio Day 2025 next month, the report adds.
Nio highlighted that the new ES8 is significantly bigger than its predecessor, now categorized as a large SUV. It comes in six- and seven-seat versions, measuring 5,280 mm in length, 2,010 mm in width, and 1,800 mm in height, with a 3,250 mm wheelbase.
For comparison, the prior generation was shorter, narrower, and had a smaller wheelbase.
The ES8 rides on a 900-volt architecture with a maximum voltage of 925 volts.
It features a 100-kWh battery pack that supports up to 5C fast charging. The model also maintains Nio’s signature three-minute battery swap option, giving drivers a full charge in record time.
The launch comes as Nio looks to solidify its position against rivals such as XPeng Inc. (NYSE:XPEV) and Li Auto Inc. (NASDAQ:LI).
Price Action: NIO shares are trading higher by 3.16% to $5.230 at last check Thursday.
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